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Product Description
Product Description
See the decision-making process behind investments.
The Psychology of Investing is the first text of its kind to delve into the fascinating subject of how psychology affects investing. Its unique coverage describes how investors actually behave, the reasons and causes of that behavior, why the behavior hurts their wealth, and what they can do about it.
The fourth edition addresses the current financial crisis, has a new chapter on framing effects, and contains new evidence and ideas in every chapter.
The Psychology of Investing is the first text of its kind to delve into the fascinating subject of how psychology affects investing. Its unique coverage describes how investors actually behave, the reasons and causes of that behavior, why the behavior hurts their wealth, and what they can do about it.
The fourth edition addresses the current financial crisis, has a new chapter on framing effects, and contains new evidence and ideas in every chapter.
From the Back Cover
Traditional finance has focused on developing the tools that investors use to optimize expected return and risk. Understanding the motivations behind this behavior is extremely important when applying these financial tools.
This is the only textbook that describes (1) how investors actually behave, (2) the reasons and causes of that behavior, (3) why the behavior hurts their wealth, and (4) what they can do about it. New coverage includes:
- Behavioral finance is a rapidly expanding field. As such, new evidence of investor behavior has been added to every chapter.
- A new chapter describes how mood and feelings influence investor decisions.
- End-of-chapter questions are now included. These questions focus on the core concepts of each chapter.
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Customer Reviews
Most Helpful Customer Reviews
0 of 2 people found the following review helpful
Format:Paperback
This is an easy to read guide to the complex emotions of how we react to investing - the highs and the lows. It should be required reading for everyone who thinks that financial planning is only about following the journalists tips in the sunday papers and visiting their local high street bank. If your financial advisor is not discussing the pyschology of your investment attitudes find one who can!
Most Helpful Customer Reviews on Amazon.com (beta)
Amazon.com:
12 reviews
31 of 35 people found the following review helpful
Great Book
24 Jan 2003
Format:Paperback
Most of the typical psychology of trading books just regurgitate the same 'ol same 'ol. This one hits all the bases with examples to back them up - and no fluff. I really appreciated how everything was condensed and to the point without having to read a lengthy discourse on each topic. That made it easy to digest the material and left me with a lot to think about. This was the best book I've read in it's class. Well worth reading.
14 of 15 people found the following review helpful
Good summary of how behavior affects investing decisions
29 May 2005
Format:Paperback
This book contains a good summary of the different ways in which what we think affects investing decisions we make. I liked the fact that the book is short and to the point and does not use psychological jargon. I found it quite insightful and could identify with several of the traits and thought processes the book describes, I would recommend it to anyone who makes their own investment decisions
13 of 15 people found the following review helpful
A very good book that proves sometimes less is more.
10 July 2005
Format:Paperback
I really liked this book. Nofsinger makes a clear and concise case against the existence of a rational investing "homo economicus", a key assumption of modern portfolio theory. The book is well footnoted and a good place to start learning the underlying tenants of behavioral finance.
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